Bank of India is one of the country’s leading banking institutions catering to the diverse needs of its customers. It was founded in 1906 with a primary capital of Rs. 50 lakh. Over the years, the bank has gained a leading role in the banking sector by introducing various new and innovative financial and banking products and services. The bank has a diversified focus and caters to customers in areas such as personal banking, business finance, deposits, loans and SME services.
Bank of India has been slowly and steadily growing its loans portfolio and has focused on the education loan sector as well. There are reasons for this. As education costs in India is rising tremendously. As the pressure of bearing this hike in prices falls on the family and student, Bank of India helps students to pursue their chosen educational path with a financial aid. The student loan scheme of the bank is a one-stop solution to all problems. It has become more popular in recent times. The scheme for education loans covers all costs associated with higher studies and other expenses incurred by educational institutions.
Bank of India currently offers two types of Education Loans to students to pursue higher studies whether pursued in India or pursued abroad. The first type of loan offered s for higher studies and the second types of loan offered is designed exclusively for students pursuing higher studies from premier institutes. The variants of the BOI education loan are: